03-16-2025, 04:20 PM
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#2452
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Powerplay Quarterback
Join Date: Feb 2006
Location: Sunnyvale nursing home
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Bank of Canada Rate Cut Is Driving Mortgage Costs Higher
Quote:
Canadian mortgage borrowers waiting on the central bank may be disappointed by its latest move. The Bank of Canada (BoC) cut its overnight rate by 0.25 points to 2.75% on Tuesday. Many professionals applauded the decision, believing it would improve mortgage affordability. Unfortunately, that may not be the case, as the decision boosted inflation expectations and sent bond yields higher. This ultimately applies upward pressure on popular fixed-rate products, raising the floor of borrowing costs.
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